Overview

The pioneer of the natural gas industry in the country, Pakistan Petroleum Limited (PPL) has been a frontline player in the energy sector since the mid-1950s. As a major supplier of natural gas, PPL today contributes over 20 percent of the country’s total natural gas supplies besides producing crude oil, Natural Gas Liquid and Liquefied Petroleum Gas.

The company’s history can be traced back to the establishment of a public limited company in June 1950, with major shareholding by Burmah Oil Company (BOC) of the United Kingdom for exploration, prospecting, development and production of oil and natural gas resources. In September 1997, BOC disinvested from the Exploration and Production (E&P) sector worldwide and sold its equity in PPL to the Government of Pakistan (GoP). Subsequently, the government reduced its holding through an initial public offer in June 2004, which was further decreased with the initiation of the Benazir Employees Stock Option Scheme (BESOS) in August 2009 when PPL employees were allotted 12 percent shares from the government’s equity. More recently, GoP further disinvested its 5 percent shares, around 3.55 percent of the total paid-up capital, in PPL through Secondary Public Offering in 2014. Currently, the company’s shareholding is divided between the government, which owns about 68 percent, PPL Employees Empowerment Trust that has approximately 7 percent — being shares transferred to employees under BESOS — and private investors, who hold nearly 25 percent.

PPL has acquired 100 percent shareholding of MND E&P Limited, a company incorporated in England and Wales. The name of the subsidiary has been changed to PPL Europe E&P Limited.

The company has also established a wholly-owned subsidiary, PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands. The subsidiary will focus on exploration and production of oil and gas in the region. PPL will assign its interest in Block-8, Iraq, under the Exploration, Development and Production Service Contract with Midland Oil Company, Iraq to PPL Asia E&P B.V.The company has also established a wholly-owned subsidiary, PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands. The subsidiary will focus on exploration and production of oil and gas in the region. PPL will assign its interest in Block-8, Iraq, under the Exploration, Development and Production Service Contract with Midland Oil Company, Iraq to PPL Asia E&P B.V.The company has also established a wholly-owned subsidiary, PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands. The subsidiary will focus on exploration and production of oil and gas in the region. PPL will assign its interest in Block-8, Iraq, under the Exploration, Development and Production Service Contract with Midland Oil Company, Iraq to PPL Asia E&P B.V.The company has also established a wholly-owned subsidiary, PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands. The subsidiary will focus on exploration and production of oil and gas in the region. PPL will assign its interest in Block-8, Iraq, under the Exploration, Development and Production Service Contract with Midland Oil Company, Iraq to PPL Asia E&P B.V.The company has also established a wholly-owned subsidiary, PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands. The subsidiary will focus on exploration and production of oil and gas in the region. PPL will assign its interest in Block-8, Iraq, under the Exploration, Development and Production Service Contract with Midland Oil Company, Iraq to PPL Asia E&P B.V.The company has also established a wholly-owned subsidiary, PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands. The subsidiary will focus on exploration and production of oil and gas in the region. PPL will assign its interest in Block-8, Iraq, under the Exploration, Development and Production Service Contract with Midland Oil Company, Iraq to PPL Asia E&P B.V.The company has also established a wholly-owned subsidiary,PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands.The subsidiary’s main objective is exploration and production of oil and gas in the region. For this, PPL will assign its interest in Block-8, Iraq, under the Exploration,Development and Production Service Contract with Midland Oil Company, Iraq to its subsidiary.he company has also established a wholly-owned subsidiary,PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands.The subsidiary’s main objective is exploration and production of oil and gas in the region. For this, PPL will assign its interest in Block-8, Iraq, under the Exploration,Development and Production Service Contract with Midland Oil Company, Iraq to its subsidiary.The company has also established a wholly-owned subsidiary, PPL Asia E&P B.V. with corporate seat in Amsterdam, Kingdom of Netherlands. The subsidiary will focus on exploration and production of oil and gas in the region. PPL has assigned its interest in Block 8, Iraq, under the Exploration, Development and Production Service Contract with Midland Oil Company, Iraq to PPL Asia E&P B.V.

As a major stakeholder in securing a safe energy future for the country, PPL pursues an aggressive exploration agenda aimed at enhancing hydrocarbon recovery and replenish reserves. PPL together with its subsidiaries has a portfolio of 48 exploration assets of which the company operates 28, including one contract in Iraq, while 20 blocks, comprising three offshore leases in Pakistan and one onshore concession in Yemen, are operated by joint venture partners.

Over the years, PPL has developed a reliable foundation and infrastructure for providing clean and safe energy through sustainable exploitation of indigenous natural resources while adhering to best practices of corporate governance and employee health and safety and constraining the ecological footprint of its operations. As a result, Sui, Kandhkot, Adhi and Hala, Gambat South, Mazarani assets, Purification Plant, Sui, Sui Field Gas Compressor Station, Sui Production, Sui Field utility, Sui Stores, Sui Field Hospital and Quality, Health, Safety and Environment, Drilling & Well Engineering, Construction, Projects, Production Technology and Medical Services departments stand certified for ISO 9001 Quality Management System.

PPL has played a significant role as a responsible corporate citizen since the inception of its commercial activities in Sui by establishing the Sui Model School in 1957 for children of workers and local communities. In 2001, the PPL Welfare Trust was founded to provide geographical and thematic diversity to the company’s CSR programme, which currently includes education, health, infrastructure development and socio-economic uplift of disadvantaged communities living in and around its operating areas as well as other parts of the country. More recently, the company also initiated Corporate Donations programme to reach deserving population in urban areas.